₦airaland Forum

This means that at the end of the year, there will be a 1 : 10 bonus for faithful investors who did not sell their shares. Hope I am right.

kariacat:
Dangote Refinery : Retail Investor Incentive Programme ?

I am having a really hard time understanding what the Dangote refinery Retail Investor Incentive Programme really means ? From the prospectus, it sounds like they would give each person 1 extra share (N525) if you keep the shares for a year and 2 if you keep them for 2 years. Is this true ? If it is so, I consider this an insult and a slap on the faces of their investors. So if Chief buys N50 million worth of Dangote's shares and keeps his capital tied down with Dangote for a full year, it is one single share that he will get as compensation ? What an insult !! This can never ever keep a person from selling his shares... never !!!!

But on the other hand, what I had initially understand was that for every 10 units (minimum quantity) purchased, an extra 1 unit will be awarded free of charge after a year. Therefore, for 40,000 units purchased, an investor will get 4,000 extra units. That is : 1 for 10.

Which of these is correct please ?

megawealth01:
How una do cash transfer to people without PHONES?

NAIJA SEF 😂😂😂😂😂😂

It's done through ATM cards. They give them ATM cards with the money already paid into it.

deathwing:
Just used the block function on someone. Never used the feature before…and wasn’t really aware of it before. Nice.

The disadvantage of that block button is that, if you logout and wish to read as a guest, you'll still be seeing the posts....
Best thing for us is to just learn to ignore and scroll past his posts that are non-investment related.....😊

Some are fighting while some are eating food

searchng4love:
Hi megawealth01, this space is strictly reserved for business-focused discussion and value. Since you're adding neither and continuing to derail the conversation, I'm asking you to stop. I'm now escalating this directly to platform management to address your access...
Cc Dominique

Start a business related discussion na

kariacat:
Dangote Refinery : Retail Investor Incentive Programme ?

From the prospectus, it sounds like they would give each person 1 extra share (N525) if you keep the shares for a year and 2 if you keep them for 2 years. Is this true ?

If it is so, I consider this an insult and a slap on the faces of their investors. So if Chief buys N50 million worth of Dangote's shares and keeps his capital tied down with Dangote for a full year, it is one single share that he will get as compensation..

Which of these is correct please ?

This is exactly my interpretation of the retail investor incentive!
Irrespective of your quantity or the quantity purchased, you get 1 after a year and 2 after two years.

* I think price appreciation is what Alhaji is looking at compensating investors with....rather than the bonus
* Hopefully, they'll be able to manipulate the price up in investors favour and keep maintaining it at higher price above the IPO's. 😁

** However, I think we should not get ourselves worked up on this bonus issue for now, more detailed clarification may come after listing or so.......maybe it will be pro-rated or not.

** Dangote Refinery can't give 1:10 bonus!!
It will rather be a consolidation or reconstruction into 10:1 possibly in future.

kariacat:
Dangote Refinery : Retail Investor Incentive Programme ?

I am having a really hard time understanding what the Dangote refinery Retail Investor Incentive Programme really means ? From the prospectus, it sounds like they would give each person 1 extra share (N525) if you keep the shares for a year and 2 if you keep them for 2 years. Is this true ? If it is so, I consider this an insult and a slap on the faces of their investors. So if Chief buys N50 million worth of Dangote's shares and keeps his capital tied down with Dangote for a full year, it is one single share that he will get as compensation ? What an insult !! This can never ever keep a person from selling his shares... never !!!!

But on the other hand, what I had initially understand was that for every 10 units (minimum quantity) purchased, an extra 1 unit will be awarded free of charge after a year. Therefore, for 40,000 units purchased, an investor will get 4,000 extra units. That is : 1 for 10.

Which of these is correct please ?

This was discussed extensively here.

Each shareholder who keeps a minimum of 10 shares for 1 year will get 1 free share. Hold for 2 years and you get 2 free shares total.

That is 10% value per annum—and 20% over the 2 years—for the minimum holder.

The retail investor incentive is clear: it targets the 10 million everyday Nigerians—drivers, cooks, small traders. It encourages them to hold for at least 2 years.

If you can afford 50 units or more, be thankful and look away. This is the people's IPO.

As our Group Chairman said: we are looking forward to using stadiums for AGMs.

On the other hand, do you think it will not be a massive dilution for a newly listed company that already has huge outstanding shares to be given 1:10 bonus 2 years in a row?

Japaulgold opted for last hour clearance.

Stockpromoter:
Japaulgold opted for last hour clearance.

Sorry o, who is that guy that was sitting down and watching as Japaulgold deh park, I hope it is not the shareholders?

THE INHERITANCE DILEMMA: BUILD A HOUSE OR BUILD A FUTURE?

I am the only son of my father.

My father passed away some years ago and left behind a few properties for the family. Nothing extravagant, but enough to give us something to build on if we managed it wisely.

One of those properties is a house in Lagos State.

The house has four flats. Three are currently rented out, while one is still occupied by the family whenever we need it.

Each of the three rented apartments brings in about ₦3 million per year.

That means the property generates approximately ₦9 million annually.

There is also a piece of land attached to the property.

At some point, one of my younger siblings wanted to travel abroad. We needed money to support the process, so part of the family land was sold. With part of the proceeds, I bought another piece of land — about one acre — not too far from where we currently live.

It cost about ₦4.5 million.

I have done the survey. The documents have been checked. The land is genuine and there is no known dispute over it.

I thought I had solved one problem.

But I didn't know I had simply created another one.

Because now I have land.

What I don't have is the money to develop it.

I also have another house in my hometown. Unfortunately, the rent there is almost insignificant by Lagos standards.

The tenant pays about ₦5,000 per month, and because he pays six months at a time, the yearly income is roughly ₦60,000.

I work remotely.

My wife and I also run a business together, and I have personal shares in the business.

So, on paper, I am not completely stranded.

But in reality, I don't have the kind of liquid capital required to start building houses on the land.

And this is where my dilemma begins.

I keep looking at the land.

Someone is farming on one part of it.

The other part is simply sitting there.

Every time I pass it, I think:

"This could be generating money for my family."

But then I remember what it would cost to develop it.

Foundation.

Blocks.

Iron rods.

Cement.

Sand.

Labour.

Roofing.

Plumbing.

Electrical work.

Doors.

Windows.

Finishing.

Then suddenly, what looked like a simple piece of land becomes a project requiring tens of millions of naira.

My sisters have advised me not to rush.

My wife has also expressed similar concerns.

Their argument is simple:

"Don't touch the rental income just because you have land."

The Lagos property currently gives us about ₦9 million a year, and there are other expenses associated with maintaining the property.

They believe that money should be protected, invested carefully, and allowed to accumulate.

But I keep thinking about opportunity cost.

What happens if I spend five years protecting the money but the land remains undeveloped?

What happens if construction costs continue rising?

What happens if the same house that costs ₦30 million to build today requires ₦50 million in a few years?

Then another thought comes to my mind.

What if I don't build at all?

What if I take some of the money and start a business?

Perhaps a business could generate more cash flow than a rental property.

Perhaps I could invest in something that grows faster.

But then again, businesses can fail.

The land cannot disappear.

That is what makes the decision difficult.

I am not dealing with money I earned entirely by myself.

This is part of my father's legacy.

And because I am the only son, I feel a certain responsibility to preserve and grow what he left behind.

I don't want to be the generation that inherited property and eventually sold everything.

But I also don't want to be the man who inherited assets, poured every available naira into construction, and then became cash-poor.

My biggest fear isn't even losing money.

My biggest fear is making a decision that looks intelligent today but becomes a terrible decision five years from now.

My wife thinks we should be cautious.

My sisters think I should preserve the existing rental income.

I, on the other hand, keep thinking about development, business and creating additional income streams.

So now I find myself asking a very uncomfortable question:

If you were in my shoes, what would you do?

Would you:

A. Keep collecting the rent and save aggressively until you have enough money to develop the land properly?

B. Use part of the rental income to gradually start construction, even if it takes several years?

C. Forget construction for now and use some of the money to build a business that could generate more cash flow?

D. Develop only a small portion of the land first, perhaps one or two units, and use the income to finance the next phase?

Or is there another option I am completely missing?

Because right now, I have assets.

I have land.

I have rental income.

I have a business.

I have a wife and children.

I have a family legacy to protect.

But what I don't have is unlimited capital.

And sometimes, having assets without enough cash to develop them can be just as stressful as having nothing at all.

So the question isn't simply, "Should I build?"

The real question is: "How do I turn what my father left me into something that will still be working for my children long after I'm gone — without destroying my financial stability today?"

emmanuelewumi:
Start a business related discussion na

Now that ACCESS shifted base small, Fidelity was able to get room for movement....😊

ETERNA getting lots of attention today..

WOW

reezee:
It's done through ATM cards. They give them ATM cards with the money already paid into it.

😂🤣😂🤣

Stockpromoter:
Some are fighting while some are eating food

emmanuelewumi:
Start a business related discussion na

His actions should not be encouraged.
It is better for the forum to stay quiet than someone posting irrelevant subjects.

Make I give you 3 weeks break too

pluto09:
His actions should not be encouraged.
It is better for the forum to stay quiet than someone posting irrelevant subjects.

Accesscorp will rally as the market closes.
The people involved are on standby

yMcy56:
Now that ACCESS shifted base small, Fidelity was able to get room for movement....😊

ETERNA getting lots of attention today..

Please, if you don’t like my posts and you’re still following me, then that’s just a waste of a followership. 😂 I’ll even start blocking those who go under other people’s comments to announce that they don’t like my posts.

I’m very intentional about what I’m doing, and I won’t allow this group to become dull. I’m here to keep things lively, engaging, and informative.

And to those complaining about my posts-you still enjoy all the market updates I share here for free. Una dey pay me for the premium service? 😂 If you’re getting valuable information at no cost, abeg, allow me to do my thing. 😎

faoogoke:
Accesscorp will rally as the market closes.
The people involved are on standby

I'm watching the prophesied rally

Is Geregu trading more volume than Presco, or are my eyes deceiving me?

faoogoke:
Accesscorp will rally as the market closes.
The people involved are on standby

ACCESS is not for the faint hearted!
They've started packing it @32 when market resumes and no offer again, just when someone came to drop 2M offer, before you know it, it was above 5M at same 32......

Guess some were taking profit at that junction in case it wants to reverse back below 28/30 again 😁

Let's see if they'll close it @32 or above..

* FIDELITYBK is closed to 23 as at now...

Meerahbel:
THE INHERITANCE DILEMMA: BUILD A HOUSE OR BUILD A FUTURE?

I am the only son of my father.

My father passed away some years ago and left behind a few properties for the family. Nothing extravagant, but enough to give us something to build on if we managed it wisely.

One of those properties is a house in Lagos State.

The house has four flats. Three are currently rented out, while one is still occupied by the family whenever we need it.

Each of the three rented apartments brings in about ₦3 million per year.

That means the property generates approximately ₦9 million annually.

There is also a piece of land attached to the property.

At some point, one of my younger siblings wanted to travel abroad. We needed money to support the process, so part of the family land was sold. With part of the proceeds, I bought another piece of land — about one acre — not too far from where we currently live.

It cost about ₦4.5 million.

I have done the survey. The documents have been checked. The land is genuine and there is no known dispute over it.

I thought I had solved one problem.

But I didn't know I had simply created another one.

Because now I have land.

What I don't have is the money to develop it.

I also have another house in my hometown. Unfortunately, the rent there is almost insignificant by Lagos standards.

The tenant pays about ₦5,000 per month, and because he pays six months at a time, the yearly income is roughly ₦60,000.

I work remotely.

My wife and I also run a business together, and I have personal shares in the business.

So, on paper, I am not completely stranded.

But in reality, I don't have the kind of liquid capital required to start building houses on the land.

And this is where my dilemma begins.

I keep looking at the land.

Someone is farming on one part of it.

The other part is simply sitting there.

Every time I pass it, I think:

"This could be generating money for my family."

But then I remember what it would cost to develop it.

Foundation.

Blocks.

Iron rods.

Cement.

Sand.

Labour.

Roofing.

Plumbing.

Electrical work.

Doors.

Windows.

Finishing.

Then suddenly, what looked like a simple piece of land becomes a project requiring tens of millions of naira.

My sisters have advised me not to rush.

My wife has also expressed similar concerns.

Their argument is simple:

"Don't touch the rental income just because you have land."

The Lagos property currently gives us about ₦9 million a year, and there are other expenses associated with maintaining the property.

They believe that money should be protected, invested carefully, and allowed to accumulate.

But I keep thinking about opportunity cost.

What happens if I spend five years protecting the money but the land remains undeveloped?

What happens if construction costs continue rising?

What happens if the same house that costs ₦30 million to build today requires ₦50 million in a few years?

Then another thought comes to my mind.

What if I don't build at all?

What if I take some of the money and start a business?

Perhaps a business could generate more cash flow than a rental property.

Perhaps I could invest in something that grows faster.

But then again, businesses can fail.

The land cannot disappear.

That is what makes the decision difficult.

I am not dealing with money I earned entirely by myself.

This is part of my father's legacy.

And because I am the only son, I feel a certain responsibility to preserve and grow what he left behind.

I don't want to be the generation that inherited property and eventually sold everything.

But I also don't want to be the man who inherited assets, poured every available naira into construction, and then became cash-poor.

My biggest fear isn't even losing money.

My biggest fear is making a decision that looks intelligent today but becomes a terrible decision five years from now.

My wife thinks we should be cautious.

My sisters think I should preserve the existing rental income.

I, on the other hand, keep thinking about development, business and creating additional income streams.

So now I find myself asking a very uncomfortable question:

If you were in my shoes, what would you do?

Would you:

A. Keep collecting the rent and save aggressively until you have enough money to develop the land properly?

B. Use part of the rental income to gradually start construction, even if it takes several years?

C. Forget construction for now and use some of the money to build a business that could generate more cash flow?

D. Develop only a small portion of the land first, perhaps one or two units, and use the income to finance the next phase?

Or is there another option I am completely missing?

Because right now, I have assets.

I have land.

I have rental income.

I have a business.

I have a wife and children.

I have a family legacy to protect.

But what I don't have is unlimited capital.

And sometimes, having assets without enough cash to develop them can be just as stressful as having nothing at all.

So the question isn't simply, "Should I build?"

The real question is: "How do I turn what my father left me into something that will still be working for my children long after I'm gone — without destroying my financial stability today?"

As seen on the Internet?

searchng4love:
Hi megawealth01, this space is strictly reserved for business-focused discussion and value. Since you're adding neither and continuing to derail the conversation, I'm asking you to stop. I'm now escalating this directly to platform management to address your access...
Cc Dominique

"Searching4love" and Mega may yet make a fine couple.. one is searching and the other though hasn't said he is, is likely single..

Meerahbel:
THE INHERITANCE DILEMMA: BUILD A HOUSE OR BUILD A FUTURE?

I am the only son of my father.

My father passed away some years ago and left behind a few properties for the family. Nothing extravagant, but enough to give us something to build on if we managed it wisely.

One of those properties is a house in Lagos State.

The house has four flats. Three are currently rented out, while one is still occupied by the family whenever we need it.

Each of the three rented apartments brings in about ₦3 million per year.

That means the property generates approximately ₦9 million annually.

There is also a piece of land attached to the property.

At some point, one of my younger siblings wanted to travel abroad. We needed money to support the process, so part of the family land was sold. With part of the proceeds, I bought another piece of land — about one acre — not too far from where we currently live.

It cost about ₦4.5 million.

I have done the survey. The documents have been checked. The land is genuine and there is no known dispute over it.

I thought I had solved one problem.

But I didn't know I had simply created another one.

Because now I have land.

What I don't have is the money to develop it.

I also have another house in my hometown. Unfortunately, the rent there is almost insignificant by Lagos standards.

The tenant pays about ₦5,000 per month, and because he pays six months at a time, the yearly income is roughly ₦60,000.

I work remotely.

My wife and I also run a business together, and I have personal shares in the business.

So, on paper, I am not completely stranded.

But in reality, I don't have the kind of liquid capital required to start building houses on the land.

And this is where my dilemma begins.

I keep looking at the land.

Someone is farming on one part of it.

The other part is simply sitting there.

Every time I pass it, I think:

"This could be generating money for my family."

But then I remember what it would cost to develop it.

Foundation.

Blocks.

Iron rods.

Cement.

Sand.

Labour.

Roofing.

Plumbing.

Electrical work.

Doors.

Windows.

Finishing.

Then suddenly, what looked like a simple piece of land becomes a project requiring tens of millions of naira.

My sisters have advised me not to rush.

My wife has also expressed similar concerns.

Their argument is simple:

"Don't touch the rental income just because you have land."

The Lagos property currently gives us about ₦9 million a year, and there are other expenses associated with maintaining the property.

They believe that money should be protected, invested carefully, and allowed to accumulate.

But I keep thinking about opportunity cost.

What happens if I spend five years protecting the money but the land remains undeveloped?

What happens if construction costs continue rising?

What happens if the same house that costs ₦30 million to build today requires ₦50 million in a few years?

Then another thought comes to my mind.

What if I don't build at all?

What if I take some of the money and start a business?

Perhaps a business could generate more cash flow than a rental property.

Perhaps I could invest in something that grows faster.

But then again, businesses can fail.

The land cannot disappear.

That is what makes the decision difficult.

I am not dealing with money I earned entirely by myself.

This is part of my father's legacy.

And because I am the only son, I feel a certain responsibility to preserve and grow what he left behind.

I don't want to be the generation that inherited property and eventually sold everything.

But I also don't want to be the man who inherited assets, poured every available naira into construction, and then became cash-poor.

My biggest fear isn't even losing money.

My biggest fear is making a decision that looks intelligent today but becomes a terrible decision five years from now.

My wife thinks we should be cautious.

My sisters think I should preserve the existing rental income.

I, on the other hand, keep thinking about development, business and creating additional income streams.

So now I find myself asking a very uncomfortable question:

If you were in my shoes, what would you do?

Would you:

A. Keep collecting the rent and save aggressively until you have enough money to develop the land properly?

B. Use part of the rental income to gradually start construction, even if it takes several years?

C. Forget construction for now and use some of the money to build a business that could generate more cash flow?

D. Develop only a small portion of the land first, perhaps one or two units, and use the income to finance the next phase?

Or is there another option I am completely missing?

Because right now, I have assets.

I have land.

I have rental income.

I have a business.

I have a wife and children.

I have a family legacy to protect.

But what I don't have is unlimited capital.

And sometimes, having assets without enough cash to develop them can be just as stressful as having nothing at all.

So the question isn't simply, "Should I build?"

The real question is: "How do I turn what my father left me into something that will still be working for my children long after I'm gone — without destroying my financial stability today?"

Question 1: In which City and state do you have an acre of land?

If you keep this land hoping it appreciates over time, I am sad to inform you that then, you will know the people that smiled with you while you were paying them will eventually become your enemy at that point of in time.

Question 2: The rental income is to be invested in what business? A business you own in conjunction with your sisters or what?

Question 3: If you are investing alongside your siblings, what happens to your own business and what time do you have for that? Perhaps, you are the proverbial foreman abi na fourman.

I would have loved to advice but you seem to be wiser than me.

Best of luck.

Erniemax101:
Is Geregu doing more volumes than Presco or my eye are deceiving me

At the mention of Geregu, all hearts shall tremble.

essentialone1:
OandO always sound like wedding invitation card. OandO, OwedO

There are some heavy investors positioning in the oil sector for about 2 years now. You can see Tony Elumelu coming into SEPLAT. You can see major silent moves in ARADEL. But they are all avoiding OANDO.

Why? Why are they avoiding Oando? Why are they not overlooking the book problem and positioning into the largest indigenous reserves?

The answer is simple: Oando's problem is not cosmetic. It is existential.

The auditors flagged a "material uncertainty related to going concern" in the FY2025 financial statements. The reasons are explicit:

Recurring net liabilities (negative equity of N567 billion)

Significant working capital deficiency

Multiple loan defaults

Exposure to enforcement of security over assets

Uncertainty over management's funding plans

The company is technically insolvent. Liabilities exceed assets. It is only operating because of a Letter of Guarantee from its majority shareholder—which has not been independently verified.

The numbers tell the story:
Total liabilities: N8.01 trillion
Shareholders' equity: negative N567 billion
Finance costs: N465 billion (nearly doubled from N236 billion)
Operating cash flow: N32.3 billion (barely positive)

And the earnings are not what they seem. Oando reported EPS of N30 for FY2025, but a forensic review found it was "optically strong but structurally weaker." The profit was driven by non-recurring finance income, tax credits, and impairment reversals. Core operations were weak: revenue declined 22%, and the company recorded a gross loss of N2.76 billion.

Now look at the alternative:

SEPLAT reduced net debt to $673 million, generated $1.17 billion in operating cash flow, and maintains a 40-50% dividend payout policy.

ARADEL attracted an undisclosed buyer who paid N390 billion for a 15.92% stake, valuing it at N559.5 per share.

Elumelu and that buyer are institutional investors. Their internal risk committees and fiduciary duties prevent them from investing in a company with negative equity, going concern warnings, multiple loan defaults, and earnings reliant on non-recurring items.

It is not that they are overlooking Oando's book problem. The book problem disqualifies Oando from serious institutional investment.

The reserves are real. But reserves only create value if they can be developed and monetized. Oando's debt burden means any cash flow generated must first service debt before it can fund development or return capital.

Renaissance Capital's fair value of N123 per share is based on asset value. The market price of N34 reflects the debt discount. The gap is the market saying: "We see the reserves, but we don't trust the balance sheet to unlock them."

Until Oando fixes its balance sheet, it remains a stock for speculators, not institutions.

MARKET BULLETIN


28 September 2026 NGXREG/IRD/MB109/26/9/28


Regency Alliance Insurance Plc: Listing of 3,684,210,525 Ordinary Shares Arising from Regency Alliance Insurance Plc’s Private Placement of 7,368,421,052 Ordinary Shares of 50 Kobo Each at 95 Kobo Per Share.

Trading Licence Holders and the investing public are hereby notified that additional 3,684,210,525 ordinary shares of 50 Kobo each of Regency Alliance Insurance Plc (the Company) were today, Monday, 28 September 2026, listed on the Daily Official List of Nigerian Exchange Limited (NGX).

The additional shares listed on NGX arose from the Company’s Private Placement of 7,368,421,052 ordinary shares of 50 Kobo each at 95 Kobo per share. With the listing of the additional shares, the total issued and fully paid-up share capital of Regency Alliance Insurance Plc have now increased from 18,679,385,062 to 22,363,595,587 ordinary shares of 50 Kobo each.

This is for your information please.


Godstime Iwenekhai
Head, Issuer Regulation Department

DEAR ALL,

A TOTAL OF 491,094,148 UNITS OF FIDELITY BANK PLC WAS EXECUTED AS AN OFF-MARKET TRADE TODAY, SEPTEMBER 28, 2026, IN FOUR DEALS.

THE TRADE WAS NEGOTIATED DEAL WITH PAC SECURITIES LTD ON THE SELL SIDE AND CORDROS SECURITIES LIMITED ON THE BUY SIDE.

THANK YOU.

Meerahbel:
THE INHERITANCE DILEMMA: BUILD A HOUSE OR BUILD A FUTURE?

I am the only son of my father.

My father passed away some years ago and left behind a few properties for the family. Nothing extravagant, but enough to give us something to build on if we managed it wisely.

One of those properties is a house in Lagos State.

The house has four flats. Three are currently rented out, while one is still occupied by the family whenever we need it.

Each of the three rented apartments brings in about ₦3 million per year.

That means the property generates approximately ₦9 million annually.

There is also a piece of land attached to the property.

At some point, one of my younger siblings wanted to travel abroad. We needed money to support the process, so part of the family land was sold. With part of the proceeds, I bought another piece of land — about one acre — not too far from where we currently live.

It cost about ₦4.5 million.

I have done the survey. The documents have been checked. The land is genuine, and there is no known dispute over it.

I thought I had solved one problem.

But I didn't know I had simply created another one.

Because now I have land.

What I don't have is the money to develop it.

I also have another house in my hometown. Unfortunately, the rent there is almost insignificant by Lagos standards.

The tenant pays about ₦5,000 per month, and because he pays six months at a time, the yearly income is roughly ₦60,000.

I work remotely.

My wife and I also run a business together, and I have personal shares in the business.

So, on paper, I am not completely stranded.

But in reality, I don't have the kind of liquid capital required to start building houses on the land.

And this is where my dilemma begins.

I keep looking at the land.

Someone is farming on one part of it.

The other part is simply sitting there.

Every time I pass it, I think:

"This could be generating money for my family."

But then I remember what it would cost to develop it.

Foundation.

Blocks.

Iron rods.

Cement.

Sand.

Labour.

Roofing.

Plumbing.

Electrical work.

Doors.

Windows.

Finishing.

Then suddenly, what looked like a simple piece of land becomes a project requiring tens of millions of naira.

My sisters have advised me not to rush.

My wife has also expressed similar concerns.

Their argument is simple:

"Don't touch the rental income just because you have land."

The Lagos property currently gives us about ₦9 million a year, and there are other expenses associated with maintaining the property.

They believe that money should be protected, invested carefully, and allowed to accumulate.

But I keep thinking about opportunity cost.

What happens if I spend five years protecting the money but the land remains undeveloped?

What happens if construction costs continue rising?

What happens if the same house that costs ₦30 million to build today requires ₦50 million in a few years?

Then another thought comes to my mind.

What if I don't build at all?

What if I take some of the money and start a business?

Perhaps a business could generate more cash flow than a rental property.

Perhaps I could invest in something that grows faster.

But then again, businesses can fail.

The land cannot disappear.

That is what makes the decision difficult.

I am not dealing with money I earned entirely by myself.

This is part of my father's legacy.

And because I am the only son, I feel a certain responsibility to preserve and grow what he left behind.

I don't want to be the generation that inherited property and eventually sold everything.

But I also don't want to be the man who inherited assets, poured every available naira into construction, and then became cash-poor.

My biggest fear isn't even losing money.

My biggest fear is making a decision that looks intelligent today but becomes a terrible decision five years from now.

My wife thinks we should be cautious.

My sisters think I should preserve the existing rental income.

I, on the other hand, keep thinking about development, business and creating additional income streams.

So now I find myself asking a very uncomfortable question:

If you were in my shoes, what would you do?

Would you:

A. Keep collecting the rent and save aggressively until you have enough money to develop the land properly?

B. Use part of the rental income to gradually start construction, even if it takes several years?

C. Forget construction for now and use some of the money to build a business that could generate more cash flow?

D. Develop only a small portion of the land first, perhaps one or two units, and use the income to finance the next phase?

Or is there another option I am completely missing?

Because right now, I have assets.

I have land.

I have rental income.

I have a business.

I have a wife and children.

I have a family legacy to protect.

But what I don't have is unlimited capital.

And sometimes, having assets without enough cash to develop them can be just as stressful as having nothing at all.

So the question isn't simply, "Should I build?"

The real question is: "How do I turn what my father left me into something that will still be working for my children long after I'm gone — without destroying my financial stability today?"

My brother, I do not know where that house and land is, but I can conveniently tell you not to sell any of them. The demand for housing in Lagos will continue and wiill still outrun the supply of property for housing.

In addition to this, the adjoining plot of land should be converted to a lawn, garden, and play area for the main house. This will add to the aesthetic of the house as well as increase the desirability and ambience of the whole compound.

Based on this, you can consider charging extra amounts for rent and gradually seek to use the proceeds to gradually develop part of the plot of land. Just remember to keep some areas for relaxation and recreation. It usually helps to enhance the property value in a city that has become a concrete jungle.

To save cost, you should consider simple terrace lofts for rental income but it must be developed gradually. Adopt a percentage of your annual rental income towards developing of part of the second plot and take your time to execute it.

A Compendium of Brokers' Recommendations

pluto09:
https://nairametrics.com/2026/09/28/dangote-refinery-ipo-surpassed-mtn-gtco-digital-records-in-one-day-chapel-hill/

GTCO did 150k in 4weeks.
DR did 150k in 1 day.

For DR, Lets assume the tempo was sustained during first 2weeks
(10 working days)
In 10days=
1.5million subscribers.



I believe subscription tempo will reduce towards end of the IPO period.

However, a sudden spike in numbers might emerge 1week of September for salary earners who would like to participate.

I predict roughly 2.5million subscribers by end of
DR-IPO.